Earlier this year, Mynaski International become the first Latin America-based corporate member of the IVSC. It follows a growing awareness of, and demand for IVS across the continent, in part prompted through the adoption of IVS by entities such as IBAPE (Brazil) and the Union of Pan-American Valuers Associations (UPAV), and in part by the growing integration of IFRS as a basis of financial reporting across the region.   A spotlight on Latin America Latin America is a hugely diverse continent, characterised by developed and underdeveloped regions.  Generally speaking, the developed regions are fully integrated into the international market and their professionals,…Read more

Uruguay has been in the process of integrating IFRS / NIIFs standards since 2008.   Fair Value Revaluations must be performed regularly and frequency depends on changes in the assets’ fair values. The rules for these evaluations should follow the following topics: The revaluation should be performed by a specialized professional and duly registered with the corresponding professional body; All items from a same class must be reassessed; The increase in value should be offered to taxation; The residual value and the amortization method should be reviewed at least annually. It should be ensured that the companies do not have…Read more

Mynarski International Valuation the leading appraisal company in South America with over 2,000 clients with annual revenues in excess of US $ 300 million, covering 98% of all business sectors and has appraised companies that represent more than 30% of South America’s GDP. Latin America is characterized by developed and underdeveloped regions. The developed regions are fully integrated into the international market and their professionals are aware of and disseminate international standards of financial reporting (IFRS) and appraisals (IVSC). Valuation services are more integrated with the financial, accounting and tax areas of the companies, participating in tax planning, mergers and…Read more

Peru has been in the process of integrating IFRS / NIIFs standards since 2009.   Fair Value Revaluations must be performed regularly and the frequency depends on changes in the assets’ fair values. The rules for these reassessments should follow the following topics: The revaluation should be performed by a specialized professional and duly registered with the corresponding professional body; All items from the same class must be reassessed; The value increase should be offered to taxation; The residual value and the amortization method should be reviewed at least annually. It should be ensured that the companies do not have…Read more

Bolivia has been in the process of integrating IFRS / NIIIFs since 2010.   Lifespan The depreciation method used is the linear, based on the percentages according to art. 22 of the supreme decree 24051 ‘Utilities tax regulation’. If the company wishes to use other depreciation rates, it must request authorization for the tax administration, taking into account the exploitation forms and proposed years of lifespan.    Fair Value The following guidelines should be met in NC Accounting Standard 4 ‘Technical Revaluation of Permanent Assets’: The Technical Revaluation should be executed by a professional specialized in the subject, according to…Read more